Thomas Cook’s €750 Million High Yield Bond Offering


Shearman & Sterling advised Merrill Lynch International, DNB Markets, Lloyds Bank, Société Générale, Barclays, BNP Paribas, Citigroup, Credit Industriel et Commercial, Credit Suisse, KBC, Morgan Stanley, RBS and UniCredit on Thomas Cook’s €750 million high yield bond offering.

The offering comprised €750 million of 6.25% senior notes due 2022. The proceeds of the offering will be used to refinance existing indebtedness of the Thomas Cook group.

The Shearman & Sterling team was led by partner Apostolos Gkoutzinis (Picture) (London-Capital Markets) and included partners Korey Fevzi (London-Finance), Kristen Garry (Washington, DC-Tax), Simon Letherman (London-Tax), Ronan Wicks (London-Finance) and Marwa Elborai (London-Capital Markets); counsel Alejandro Gordano (London-Capital Markets), Mehran Massih (London-Environmental) and Rebecca Marques (London-Capital Markets); associates Randy Nahlé, Morgan Hill, Elena Dzhurova, Yaw Asare, Carla Russo and Angeliki Cheimona (all London-Capital Markets), Michèle Smith (London-Finance), Eric Grosshandler (New York-Tax) and Lois Howarth (London-Tax).

Involved fees earner: Apostolos Gkoutzinis – Shearman & Sterling; Marwa Elborai – Shearman & Sterling; Alejandro Gordano – Shearman & Sterling; Rebecca Marques – Shearman & Sterling; Randy Nahlé – Shearman & Sterling; Morgan Hill – Shearman & Sterling; Elena Dzhurova – Shearman & Sterling; Yaw Asare – Shearman & Sterling; Carla Russo – Shearman & Sterling; Angeliki Cheimona – Shearman & Sterling; Korey Fevzi – Shearman & Sterling; Ronan Wicks – Shearman & Sterling; Michèle Smith – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Lois Howarth – Shearman & Sterling; Mehran Massih – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Barclays Bank; BNP Paribas; Citigroup Inc.; Credit Suisse; KBC Bank; Lloyds Bank; Morgan Stanley; RBS; Société Générale; Unicredit S.p.A.; Crédit Industriel et Commercial; DNB Markets; Merrill Lynch International;